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microfinance

microfinance

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Published by Swathi Velisetty
microfinance ICICI
microfinance ICICI

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Published by: Swathi Velisetty on Dec 04, 2008
Copyright:Attribution Non-commercial

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05/02/2013

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Need for MicroFinance
 
Evolution of Microfinance in
Microfinance has been in practice for ages( though informally).
Legal framework for establishing the co-operative movement set up in 1904.
Reserve Bank of India Act, 1934 provided forthe establishment of the Agricultural CreditDepartment.
Nationalisation of banks in 1969
Regional Rural Banks created in 1975.
NABARD established as an apex agency forrural finance in 1982.
Passin of Mutuall Aided Co-o. Act in AP in
 
Considerable gap between demand andsupply for all financial servicesMajority of poor are excluded fromfinancial services. This is due to, thefollowing reasons5.Bankers feel that it is fraught withrisks and uncertainties.6.High transaction costs7.Unfavourable policies like caps oninterest rates which effectively limits

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